Our Quarry Place development in Ludlow is proving extremely popular with first-time buyers, thanks to its great location just a short walk from the town centre. The contemporary one and two-bedroom apartments offer fantastic value for money and may be more affordable than you’d think.
The government-backed Help-to-Buy scheme enables first-time buyers to buy newly built homes with just a 5% deposit and a 20% equity loan, which means that buyers only need to secure a 75% loan-to-value mortgage from a lender.
As an example, a beautiful ground floor apartment with contemporary open plan living, kitchen and dining area is currently available for £149,950 which means a deposit of only £7,497.50 would be needed. The value of the government-backed equity loan would be £29,990 and you would only need to start paying interest on this after six years, the rest of the equity will be repaid after 25 years or earlier if you decide to sell your property. With a 25-year mortgage, monthly repayments may be as little as £500. Use this handy calculator from Which to find out how much you could borrow on the scheme.
Quarry Place apartments all include a ten-year NHBC Buildmark guarantee, integrated washer/dryer, secure phone entry system plus parking and electrical vehicle charging points. They are fibre-ready and perfect for easy living. Make an appointment with a Sales Advisor today to find out more.